25 Indonesia’s Biggest Coal Producers- In Indonesia, there are 25 Indonesia’s Biggest Coal Producers. These companies have big role on influencing the production of coal in Indonesia. Indonesia is one of the World’s biggest coal producers. Statistically, the production of Steam Coal reached 610,936,000 metric tons based on World Mining Database in 2021.


These company in article are state-owned company and public companies. They have listed their stock in the Indonesian Stock Market (IDX). With the public status, we can access the financial performance. So, in this article, we ranked the public companies because of its unrestricted access to financial Statements. So, the private coal companies are not analysed because of limited access to their financial statement. Here is the rank of 25 Indonesia’s Biggest Coal Producers. These data were ranked by Net income that companies have gotten in 2021. Some of the companies still do not publish the annual report in 2021 so, the value is still empty.
The Rank of 25 Indonesia’s Biggest Coal Producers Based on Net Income
Rangking | Name of Company | Revenue | Revenue | Net Income | Net Income |
---|---|---|---|---|---|
2020 | 2021 | 2020 | 2021 | ||
Million US Dollar | Million US Dollar | Million US Dollar | Million US Dollar | ||
1 | Bayan Resources Tbk (BYAN) | 1,395 | 2,852 | 344 | 1,265 |
2 | Adaro Energy (ADRO) | 2,534 | 3,992 | 158 | 1,028 |
3 | Bukit Asam (PTBA) | 1,237 | 2,090 | 171 | 574 |
4 | Indo Tambangraya Megah (ITMG) | 1,185 | 2,076 | 37 | 475 |
5 | Golden Energy Mines Tbk (GEMS) | 1,061 | 1,585 | 95 | 354 |
6 | Dian Swatastika Sentosa Tbk (DSSA) | 1,507 | 2,164 | -57 | 265 |
7 | ABM Investama | 606 | 1,021 | -23 | 247 |
8 | Bumi Resources Tbk(BUMI) | 790 | 1,008 | -337 | 233 |
9 | Baramulti Suksessarana Tbk(BSSR) | 331 | 691 | 30 | 205 |
10 | Mitrabara Adiperdana Tbk (MBAP) | 201 | 309 | 27 | 100 |
11 | Harum Energy Tbk (HRUM) | 157 | 336 | 60 | 98 |
12 | TBS Energi Utama Tbk (TOBA) | 331 | 462 | 35 | 65 |
13 | Indika Energy (INDY) | 1,813 | 3,069 | -103 | 63 |
14 | Samindo Resources Tbk (MYOH) | 173 | 160 | 22 | 26 |
15 | Resource Alam Indonesia Tbk (KKGI) | 72 | 132 | -8 | 23 |
16 | Golden Eagle Energy Tbk (SMMT) | 14.9 | 36 | -1.6 | 17 |
17 | Sumber Energi Andalan Tbk (ITMA) | 0.1 | 0.2 | 12.4 | 12.2 |
18 | Batulicin Nusantara Maritim Tbk (BESS) | 21 | 28 | 3.6 | 8 |
19 | Darma Henwa Tbk (DEWA) | 303 | 322 | 2.3 | 1.4 |
20 | Delta Dunia Makmur Tbk (DOID) | 610 | 910 | -23 | 0.2 |
21 | Dwi Guna Laksana Tbk (DWGL) | 0.11 | 0.16 | 0.0025 | 0.006 |
22 | Perdana Karya Perkasa (PKPK) | 1.2 | 0.2 | 0.01 | -0.06 |
23 | Exploitasi Energi Indonesia Tbk (CNKO) | 63 | -18 | ||
24 | Borneo Olah Sarana Sukses Tbk(BOSS) | 12 | -7 | ||
25 | Akbar Indo Makmur Stimec Tbk(AIMS) | 0.337 | 0.061 | ||
Source : Annual Report 2020 &2021 | |||||
Currency Rate : 1 US Dollar = 14.000 IDR | |||||
Information : Company with Empty values still don’t published the Annual Report in 2021 |
As some additional data, we also published some assets, liabilities, and Equities of Indonesian Coal Producers in 2021 and 2020. These data were obtained from the balance sheet and Annual reports from each company in 2020 and 2021. The blank value describes that the company still does not publish an annual report in 2021 at that time.
The Assets, Liabilities, and Equities of Indonesia Coal Producers
Rank | Name of Company | Assets | Assets | Liabilities | Liabilities | Equities | Equities |
---|---|---|---|---|---|---|---|
2020 | 2021 | 2020 | 2021 | 2020 | 2021 | ||
Million US Dollar | Million US Dollar | Million US Dollar | Million US Dollar | Million US Dollar | Million US Dollar | ||
1 | Bukit Asam (PTBA) | 1,718 | 2,580 | 508 | 847 | 1,210 | 1,733 |
2 | Adaro Energy (ADRO) | 6381 | 7,586 | 2,429 | 3,128 | 3,952 | 4,458 |
3 | Indika Energy (INDY) | 3,494 | 3,691 | 2,626 | 2,807 | 868 | 884 |
4 | Indo Tambangraya Megah (ITMG) | 1,158 | 1,666 | 321 | 464 | 837 | 1,202 |
5 | Bayan Resources | 1,619 | 2,433 | 570 | 758 | 1,049 | 1,675 |
6 | Akbar Indo Makmur Stimec Tbk(AIMS) | 1.4 | 0.57 | 0.83 | |||
7 | Bumi Resources Tbk(BUMI) | 3,428 | 4,223 | 3,295 | 3,577 | 133 | 646 |
8 | Batulicin Nusantara Maritim Tbk (BESS) | 44 | 47 | 21 | 16 | 23 | 31 |
9 | Borneo Olah Sarana Sukses Tbk(BOSS) | 49 | 43 | 6 | |||
10 | Baramulti Suksessarana Tbk(BSSR) | 263 | 435 | 72 | 182 | 191 | 253 |
11 | Exploitasi Energi Indonesia Tbk (CNKO) | 79 | 161 | -82 | |||
12 | Darma Henwa Tbk (DEWA) | 550 | 563 | 281 | 292 | 269 | 271 |
13 | Delta Dunia Makmur Tbk (DOID) | 974 | 1635 | 710 | 1370 | 264 | 265 |
14 | Dian Swatastika Sentosa Tbk (DSSA) | 2,900 | 3,010 | 1,311 | 1,259 | 1,589 | 1,751 |
15 | Dwi Guna Laksana Tbk (DWGL) | 0.05 | 0.088 | 0.05 | 0.07 | 0.003 | 0.009 |
16 | Golden Energy Mines Tbk (GEMS) | 813 | 829 | 464 | 512 | 349 | 317 |
17 | Harum Energy Tbk (HRUM) | 498 | 874 | 43 | 223 | 455 | 651 |
18 | Sumber Energi Andalan Tbk (ITMA) | 160 | 183 | 0.2 | 10 | 159.8 | 173 |
19 | Resource Alam Indonesia Tbk (KKGI) | 108 | 132 | 24 | 33 | 84 | 99 |
20 | Mitrabara Adiperdana Tbk (MBAP) | 181 | 257 | 43 | 57 | 138 | 200 |
21 | Samindo Resources Tbk (MYOH) | 151 | 163 | 22 | 23 | 129 | 140 |
22 | Golden Eagle Energy Tbk (SMMT) | 62 | 75 | 22 | 16 | 40 | 59 |
23 | TBS Energi Utama Tbk (TOBA) | 771 | 858 | 480 | 503 | 291 | 355 |
24 | ABM Investama | 827 | 1036 | 665 | 679 | 162 | 357 |
25 | Perdana Karya Perkasa (PKPK) | 4.9 | 4.6 | 2.8 | 2.8 | 2.1 | 1.8 |
Source : Annual Report 2020 &2021 | |||||||
Currency Rate : 1 US Dollar = 14.000 IDR | |||||||
Information : Company with Empty values still don’t published the Annual Report in 2021 |
Brief Description of 25 Indonesia’s Biggest Coal Producers


1.Bayan Resources Tbk (BYAN)
Bayan’s history started with the purchasing coal mining concession in November 1997 located in Muara Tae, East Kalimantan namely GBP by Dato’ DR. Low Tuck Kwong. Nowadays, this company has total number of employees around 2,876 of people


Statistically, the revenue of Bayan Resources (BYAN) in 2020 is 1,395 million US Dollars an2,852 million US Dollars in 2021. Furthermore, the net income of Bayan Resources in 2020 reached 344 million US Dollars and 1,265 million US Dollars in 2021.
2. Adaro Energy (ADRO)
Adaro Energy Indonesia is one of the biggest coal producers in Indonesia. Its main location is in South Kalimantan. This company has the brand of Envirocoal, low-pollutant thermal coal. Furthermore, Adaro Energy Indonesia also has metallurgical coal assets across the spectrum from semisoft coking coal to premium-hard coking coal in Indonesia and Australia. In 2021, the Adaro Group achieved total coal sales of 51.58 Metric tons with destination markets in China, India, and some Southeast Asia countries.


Based on the annual report for 2020 and 2021, the revenue of Adaro in 2020 reached 2,534 million US Dollars and 3,992 million US Dollars in 2021. Meanwhile, the net income in 2020 reached 158 million US Dollars and 1,028 million US Dollars in 2021.
3. Bukit Asam (PTBA)
This company is state-owned company through 60% ownership via Indonesia Asahan Aluminium (Inalum). This company has 1,827 employees until 2021. Based on the performance in 2021, this company has production in 2021 reached thirty million tons and can sale 28.3 million tons with main exploration site in Tanjung Enim, South Sumatra


Overall, financially, Bukit Asam’s revenue in 2020 reached 1,237 million US Dollars and 2,090 million US Dollars in 2021. Furthermore, the net income of Bukit Asam in 2020 reached 171 million US Dollars and 574 million US Dollars in 2021.
4.Indo Tambangraya Megah (ITMG)
Historically, Indo Tambangraya Megah Tbk. (ITMG) was founded in 1987. As of December 31st, 2020, this company has 311 million tons with some site locations spread across in South Kalimantan, East Kalimantan, and Central Kalimantan. Along with the development of the company business, Indo Tambangraya has 2.300 of employees. Based on the ownership, the majority shareholder is Banpu Minerals (Singapore) Pte with 60% of ownership.


Statistically, Indo Tambangraya Megah (ITMG) can generate revenue 1,185 million US dollars in 2020 and 2,076 in 2021. Meanwhile, the net income of ITMG reached 37 million US dollars in 2020 and 475 million US Dollar in 2021.
5. Golden Energy Mines Tbk (GEMS)
Historically, this company was founded in 1997 with the name PT Bumi Kencana Eka Sakti and then changed its name to PT Golden Energy Mines Tbk on November 16th, 2010. On December 10th, 2009, the Company was acquired by PT Dian Swastatika Sentosa by taking over 99.99% of ownership. This acquisition made Golden Energy Mines as part of Sinar Mas Group.


Overall, Golden Energy Mines can generate revenue of around 1,061 million US Dollars in 2020 and 1,585 million US Dollars in 2021. Furthermore, the net income of Golden Energy Mines reached 95 million US Dollars in 2020 and 354 million US Dollars in 2021.
6. Dian Swastatika Sentosa Tbk (DSSA)


Dias Swastatika Sentosa is a part of Sinar Mas Group. Statistically, Dian Swastatika Sentosa generates revenue 1,507 million US Dollars in 2020 and 2,164 million US Dollars in 2021. In addition, in 2020, Dian Swastika suffered net loss around -57 million US Dollars in 2020 but generated net income in 2021 around 265 million US Dollars.
7.ABM Investama


This company was part of PT Tiara Marga Trakindo group. Statistically, ABM Investama generated revenue 606 million US dollars in 2020 and 1,021 million US dollars in 2021. Furthermore, in 2020, this company suffered a net loss around -23 million US dollars but gained net income of around 247 million US Dollars in 2021.
8.Bumi Resources Tbk (BUMI)


This company was founded in 1973 with the name of Bumi Modern. Statistically, Bumi Resources has revenue 790 million US Dollar in 2020 and 1,008 million US Dollars in 2021. Furthermore, in 2020, this company suffered net loss -337 million US Dollars 2019 but gained a net income of around 233 million US Dollar in 2021.
9.Baramulti Suksessarana Tbk (BSSR)
PT Baramulti Suksessarana Tbk (“BSSR”) was established in 1990 with some exploration sites in, located in South Kalimantan and East Kalimantan. In 2021, this company can produce 13.96 million tons of coal with 13.76 million tons of sales. Some of their coal was exported to China, South Korea, and the Philippines.


Financially, Baramulti gained revenue of 331 million US Dollars in 2020 and 691 million US Dollars in 2021. Furthermore, this company earned a net income of around 30 million US dollars in 2020 and 205 million US Dollars in 2021.
10.Mitrabara Adiperdana Tbk (MBAP)
Mitrabara was founded on October 28th, 1992, with site production in Malinau, North Kalimantan. Now, in 2021, this company has mining sites of around 1.930 hectares. Overall, this company can produce 3.91 million tons of Coal in 2021 and 4.1 million tons of sales.


Statistically, Mitrabara Adiperdana gained revenue of 201 million US Dollars in 2020 and 309 million US Dollars in 2021. Furthermore, this company earned a net income of 27 million US Dollars in 2020 and 100 million US Dollars in 2021.
11.Harum Energy Tbk (HRUM)
This company was founded on October 12th, 1995, with total employees of around 716 people. In 2021, this company can produce 3.2 million tons of coal with 3.5 sales of coal. Based on production, this company has with some site’s locations across East Kalimantan, Central Kalimantan, and Maluku.


Financially, Harum Energy got revenue of 157 million US Dollars in 2020 and 336 million US Dollars in 2021. In addition, this company also got net income of 60 million US Dollars in 2020 and 98 million US Dollars in 2021.
12.TBS Energi Utama Tbk (TOBA)
TBS Energi Utama was founded on August 3rd, 2007, with total employees around 644 of people as of 2021. The majority shareholder is Highland Strategic Holdings, Pte Ltd with 61% of ownership.


Statistically, TBS Energy Utama got revenue of 331 million US Dollars in 2020 and 462 million US Dollars in 2021. Furthermore, the net income of this company in 2020 reached 35 million US Dollars and 65 million US Dollars in 2021.
13. Indika Energy (INDY)


Indika Energy was founded in 2000 with some coal business segments. Financially, Indika Energy gained revenue of 1,813 million US Dollars and 3,069 million US Dollars in 2021. Furthermore, this company suffered a net loss of -103 million US Dollars in 2020 but gained a net income of around 63 million US Dollars in 2021.
14.Samindo Resources Tbk (MYOH)


Historically, Samindo Resources was founded in 1996. Statistically, Samindo Resources gained revenue of 173 million US Dollars in 2020 and 160 million US Dollars in 2021. Furthermore, the net income of Samindo in 2020 reached 22 million US Dollars and 26 million US Dollars in 2021,
15.Resource Alam Indonesia Tbk (KKGI)


Resource Alam Indonesia has some mining sites across Simpang Pasir, Bayur, Tani Bakni, Gunung Pinang, Loa Janan, Perangat, dan Maukiri. Statistically, Resource Alam Indonesia gained revenue of 72 million US Dollars in 2020 and 132 million US Dollars in 2021. Furthermore, this company suffered net loss -8 million US Dollars in 2020 but gained a net income of around 23 million US Dollars in 2021.
16.Golden Eagle Energy Tbk (SMMT)


PT Golden Eagle Energy Tbk was founded in 1980 with the name PT The Green Pub with some site locations in Palaran, Samarinda, East Kalimantan. Financially, Golden Eagle Energy gained revenue of 14.9 million US Dollars and 36 million US Dollars in 2021, Furthermore, this company suffered net loss in 2020 around -1.6 million US Dollars but gained net income in 2021 of around 17 million US Dollars.
17.Sumber Energi Andalan Tbk (ITMA)


This company was founded on November 20, 1987. Financially, Sumber Energy Andalan gained the revenue around 0.1 million US Dollars in 2020 and 0.2 million US Dollars in 2021. Furthermore, this company also earned a net income of around 12.4 million US Dollars in 2020 and 12.2 million US Dollars in 2021.
18. Batulicin Nusantara Maritim Tbk (BESS)


This company was founded on May 25th, 2011, that has a central office in Batulicin, Tanah Bumbu, South Kalimantan. Financially, Batulicin Nusantara gained revenue of around 21 million US Dollars in 2020 and 28 million US Dollars in 2021. Furthermore, this company earned a net income of around 3.6 million US Dollars in 2020 and 8 million US Dollars in 2021.
19. Darma Henwa Tbk (DEWA)


Darma Henwa was founded in 8 Oktober 1991. Financially, Darma Henwa gained revenue of 303 million US Dollars in 2020 and 322 in 2021. Furthermore, this company earned a net income of 2.3 million US Dollars in 2020 and 1.4 million US Dollars in 2021.
20. Delta Dunia Makmur Tbk (DOID)
Delta Dunia was established on November 26, 1990. Based on the ownership, Norstar Tambang Persad still becomes major shareholder with 37% of ownership and the rest of them is public shareholders.


Financially, Delta Dunia Makmur gained revenue of 610 million US Dollars in 2020 and 910 million US Dollars in 2021. Furthermore, this company suffered a net loss of around -23 million US Dollars but gained net income around 0.2 million US Dollars in 2021.
21. Dwi Guna Laksana Tbk (DWGL)
PT Dwi Guna Laksana (DGL) was founded in 1986 and has coal mine and port in Tanah Laut and Banjar in SOuth Kalimantan. Financially, Dwi Guna Laksana gained revenue of 0.11 million US Dollars in 2020 and 0.16 million US Dollars in 2021. Furthermore, this company gained net income of around 0.0025 million US Dollars in 2020 and 0.006 million US Dollars in 2021.
22. Perdana Karya Perkasa (PKPK)
Perdan Karya Perkasa started the business in 1983. Financially, Perdana Karya Perkasa gained revenue of 1.2 million US Dollars in 2020 and 0.2 million US Dollars in 2021. Furthermore, this company gained net income 0.01 million US Dollars in 2020 but suffered a net loss of around -0.06 million US dollars in 2022.
23. Exploitasi Energi Indonesia Tbk (CNKO)
The Establishment of this company was in on September 13th, 1999, under the name of PT Central Korporindo International. In 2010, its company changed its name to PT Exploitasi Energi Indonesia. Financially, Exploitasi Energi Indonesia gained revenue of 63 million US Dollars in 2020 but suffered a net loss of around -18 million US Dollars.
24. Borneo Olah Sarana Sukses Tbk (BOSS)
The Establishment of Borneo Olah Sarana was in July 2011. Financially, Borneo Olah Sarana Sukses gained a revenue of 12 million US Dollars in 2020 but suffered a net loss of around -7 million US Dollars.
25. Akbar Indo Makmur Stimec Tbk (AIMS)
Financially, Akbar Indo Makmur gained a revenue of 0.337 million US Dollars in 2020 and net income of 0.061 million US Dollars in 2020.
Bibliography of 25 Indonesia’s Biggest Coal Producers
International Organizing Committee for The World Mining Congresses. 2021. World Mining Data 2021. Accessed via https://www.world-mining-data.info/?World_Mining_Data___PDF-Files on January 10th, 2022.
Bayan Resources Tbk. Annual Report 2021. Accessed via https://www.bayan.com.sg/laporan-tahunan on May 20th, 2022
Adaro Energy. Annual Report 2021. Accessed via https://www.adaro.com/pages/read/10/42/Annual%20Report on May 20th, 2022
Bukit Asam. Annual Report 2021. Accessed via https://www.ptba.co.id/laporan/laporan-tahunan on May 20th, 2022
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Indika Energy.Annual Report 2021. Accessed via https://www.indikaenergy.co.id/id/investor/ on May 20th, 2022
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Dwi Guna Laksana Tbk. Annual Report 2021. Accessed via https://dwigunalaksana.co.id/investor_relation/ on May 20th, 2022
Perdana Karya Perkasa. Annual Report 2021. Accessed via https://www.pkpk-tbk.co.id/company-report on May 20th, 2022
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